Butterfield Fulcrum Group (Ireland), an alternative fund administration company, has been licensed to provide fund administration services by the Irish Financial Services Regulatory Authority.

Based in Dublin, Butterfield Fulcrum Group (Ireland) is now authorised under Section 10 of the Investment Intermediaries Act to provide administration services to collective investment schemes either domiciled in Ireland or offshore, including valuation services, fund accounting services, transfer agency and share registry.

The company will be able to provide these services to Irish authorised funds both Ucits and non-Ucits.

"Approximately one third of all hedge funds globally are serviced in Ireland," says Akshaya Bhargava (pictured), Butterfield Fulcrum's chief executive. "The country's strong regulatory environment has helped it become the domicile of choice for many new fund launches. This surging demand for administrative services is a perfect fit for our global operating model which has been built to handle very high volumes efficiently with transparency and flexibility."

"I am delighted to have received our license and our firm looks forward to bringing great value and innovation to the Irish funds industry," says Ken McCarney, head of the Butterfield Fulcrum Group (Ireland) office. "We believe that our significant investment in people, technology products and services anticipates new regulatory and investor requirements. We are poised to quickly become a leader in developing and applying creative technological solutions to minimise risk and maximise transparency and operational efficiency."